Bitcoin News Today: SpaceX shifts $153M Bitcoin to SegWit address amid 270% unrealized gains SpaceX moves $153M Bitcoin to SegWit address as holdings show 270% gains

SpaceX has executed a significant on-chain transaction, moving 1,308 Bitcoin—valued at approximately $153 million at current prices—to a previously unlabeled SegWit address. The transfer, recorded at 13:09 UTC+8 on the specified date, marks the aerospace firm’s first major Bitcoin activity in over three years. Blockchain analyst Wu Blockchain, citing Arkham Intelligence’s tracking tools, noted the funds were sent from a wallet dormant since mid-2022, with no evidence of fragmentation or intermediary routing, suggesting an internal realignment rather than a sale. The destination address remains inactive, with no subsequent transactions observed as of press time.

This movement follows a prior large-scale transfer on June 10, 2022, when SpaceX sent 3,505 BTC (then worth $102 million) to Coinbase. That event coincided with Tesla’s decision a month later to liquidate 75% of its Bitcoin holdings. Since then, SpaceX’s Bitcoin holdings have declined from 8,285 BTC (as of March 2024) to 6,977 BTC, currently valued at around $815 million. Arkham Intelligence has previously framed the combined holdings of Tesla and SpaceX as a macroeconomic bet on Bitcoin, with an average purchase price of approximately $32,000. At the current price of $117,000, this implies unrealized gains of nearly 270%.

Analysts speculate the latest transfer may reflect a custodial reshuffle, potentially shifting assets to colder storage or a multisignature structure. This aligns with broader industry trends, as Coinbase Prime recently replaced Xapo as SpaceX’s institutional custodian. The timing—coinciding with Bitcoin’s recent all-time high of $122,800 on July 18—has fueled market speculation about potential sales. However, on-chain data show no signs of immediate liquidation, as the recipient address has not engaged in further transactions. SpaceX has not publicly commented on its Bitcoin strategy beyond Elon Musk’s 2021 confirmation that the company holds the cryptocurrency alongside Tesla.

The move reopens debates about how companies with long-term, capital-intensive missions like interplanetary logistics should manage their digital-asset reserves. Unlike MicroStrategy’s “permanent reserve” model, SpaceX has not articulated a clear policy on monetizing its Bitcoin stack. For now, the transaction appears operational, with no indication of market intervention. Unless the destination address begins routing funds toward exchange clusters, the move is unlikely to trigger significant market volatility. Nonetheless, the scale of the transfer—$153 million in a single batch—serves as a reminder of the growing intersection between corporate treasury management and decentralized finance, even in sectors as traditional as aerospace.

At press time, Bitcoin traded at $119,394, with the broader market closely monitoring on-chain activity from major institutional holders. The transaction underscores the evolving role of Bitcoin as a strategic asset for companies with unconventional financial strategies, though its long-term implications remain contingent on further disclosures from SpaceX and broader market dynamics.